Word: dividend
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Last week the Army proudly announced one extra dividend of such upgrading: effective March 2, it will close down its disciplinary barracks for military prisoners at New Cumberland, Pa. After that, owing to a sharp decline in courts-martial (to a monthly rate of 18.2 per 100,000 soldiers from 54.1 in 1956), only two prisons (Fort Leavenworth, Kans. and Lompoc, Calif.) will operate, where two years ago five were needed...
...pressure got so great that last week A.T.&T. made more shares available. President Frederick R. Kappel announced a three-for-one split, first in the company's history, thus in one swoop will add better than 140 million shares to the market. To top it off, the dividend was boosted...
...Lebanon and Quemoy, and bad corporate news that showed a 30.5% drop in six-month earnings. The new investors were looking at other values. As steel dropped to 47.1% of capacity in April, Bethlehem Steel, the No. 2 producer, failed by 8? to make its 60? first-quarter dividend. But Bethlehem confidently paid the dividend, and the stock climbed 5⅛ points...
With profits recovering, many a board of directors saw fit to pass on to stockholders a traditional holiday treat: an extra year-end dividend. P. Lorillard Co., still riding high on the sales of Kent cigarettes, voted a 95? extra, bringing dividends to $4 v. $1.95 in 1957. Extra dividends and 2-for-1 stock splits were approved by Pet Milk and Kellogg Co.; growing drug sales gave Chas. Pfizer & Co. stockholders a higher dividend, a year-end extra of 60? and a proposed 2½-for-1split...
...stockholders fared so well. Du Pont chopped its year-end payment from $2 to $1.50 per share. United Fruit, citing fruit damage from wind storms, cut its dividend from 75? to 50?. American Telephone & Telegraph declared the same $2.25 quarterly dividend it has paid for 37 years, despite a spate of rumors of a raise. But stockholders have fared well this year despite dividend cuts in hard-hit industries. The New York Stock Exchange reported that cash dividends on common stocks for the first three quarters set a record high of $6.4 billion, up $11.2 million from...